Alan Knott-Craig, the CEO of Vodacom, said he would retire at the end of September from the South African cell phone carrier, which reported a 17% jump in revenue. Vodafone, a 50% owner in Vodacom, has an informal offer on the table to buy an additional 12.5% stake from its South African partner, Telkom. The Financial Times reported that Telkom said it was "positive" about reaching a deal with Vodafone.

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